Wednesday, July 11, 2012

News Links, July 8, 2012

## Global Ponzi meltdown/House of Cards ##Cypriot banking bailout 'world's biggest on economy'
"Cyprus is threatened with the biggest banking bailout relative to the size of its economy as lenders teeter on the edge of collapse because of their Greek investments."

"The immediate outlook is grim – European airlines are expected to report combined net losses of $1.1bn in 2012, principally because of the eurozone crisis, says the International Air Transport Association, the industry's main representative body. That compares with a combined profit of $500m last year."

## Got food? ##Higher power, diesel prices may seriously hit crops
"Kisan Board Pakistan (KBP) has claimed if electricity and diesel prices for the agricultural sector are not reduced it may lead to 50 percent reduction in output of different crops. KBP President Sardar Zafar Hussein while talking to a group of journalists after his return from a visit of the Punjab province claimed that hundreds of tube-wells had been closed down by the growers due to load shedding and higher diesel prices."

"The number of drugs on shortage has increased from 58 in 2004 to a record 267 in 2011. Last year, nearly half of hospitals reported experiencing a drug shortage on a daily basis, according to a survey of 820 hospitals by the American Hospital Association. Shortfalls are so common, pharmacy staffers at hospitals spend many extra hours to ensure there's an uninterrupted flow of medicine to patients."

Radioactive river mud threatens lakes, Tokyo Bay
"Lakes across eastern Japan are being contaminated with radioactive cesium from the crippled Fukushima No. 1 nuclear power plant, and scientists are warning of a growing problem in Tokyo Bay."